Axa S.A. Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Axa S.A. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 942,065 shares of the electric vehicle producer’s stock after selling 217,755 shares during the quarter. Axa S.A.’s holdings in Tesla were worth $186,416,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Alight Capital Management LP purchased a new position in shares of Tesla during the 2nd quarter valued at about $1,979,000. Kingfisher Capital LLC purchased a new position in shares of Tesla during the 2nd quarter valued at about $1,290,000. Wescott Financial Advisory Group LLC boosted its stake in Tesla by 8.0% in the second quarter. Wescott Financial Advisory Group LLC now owns 2,002 shares of the electric vehicle producer’s stock worth $396,000 after buying an additional 149 shares in the last quarter. Finally, Sfmg LLC grew its position in Tesla by 0.9% during the second quarter. Sfmg LLC now owns 11,918 shares of the electric vehicle producer’s stock valued at $2,358,000 after acquiring an additional 106 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA opened at $254.27 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm’s 50-day simple moving average is $221.20 and its two-hundred day simple moving average is $197.14. The stock has a market cap of $812.30 billion, a PE ratio of 64.86, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Stifel Nicolaus assumed coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.